Following up on the email i sent yesterday, here is an update of what is happening:
1)Oil prices dropped to $91. inflation in US dropped for the first time in two years - Very positive news
2)Barclays is in talk to acquire Lehman brothers assets in part or in whole. Hope still there to avoid total bankruptcy - Netural news
3)The Fed and the Treasury decided to bail out AIG for 85 billion. AIG
safe for the moment - Very positive news
4)The Fed held the US interest rates steady. They recognize that there is now more stress on the financial market but not bad enough for them to lower rates. This shows that the Fed is confident that the economy is strong enough to resist the current shocks. His statement brings more confidence to the market. - Slight positive news
5)3rd Quarter results came out. Both Goldman and Morgan Stanley topped estimates. The 2 major remaining investment banks remain profitable despite trying environment. - Very positive news
6)China Government decided to lower interest rates and decrease banks reserve requirement. This means that the China government has changed its stance from combating inflation to stimulating growth - Positive news
Overall, yesterday has been a positive day for the battered market. The US stock market recovered 1.3% - 1.7% in general. I expect Asia market to recover today.
1)Oil prices dropped to $91. inflation in US dropped for the first time in two years - Very positive news
2)Barclays is in talk to acquire Lehman brothers assets in part or in whole. Hope still there to avoid total bankruptcy - Netural news
3)The Fed and the Treasury decided to bail out AIG for 85 billion. AIG
safe for the moment - Very positive news4)The Fed held the US interest rates steady. They recognize that there is now more stress on the financial market but not bad enough for them to lower rates. This shows that the Fed is confident that the economy is strong enough to resist the current shocks. His statement brings more confidence to the market. - Slight positive news
5)3rd Quarter results came out. Both Goldman and Morgan Stanley topped estimates. The 2 major remaining investment banks remain profitable despite trying environment. - Very positive news
6)China Government decided to lower interest rates and decrease banks reserve requirement. This means that the China government has changed its stance from combating inflation to stimulating growth - Positive news
Overall, yesterday has been a positive day for the battered market. The US stock market recovered 1.3% - 1.7% in general. I expect Asia market to recover today.
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